[ 2021 ] Looking to purchase Wyndham in Newport...any guidance?

[Dougandbeth]

Hi everyone and this is our first post. We are long time DVC owners and looking to purchase a fixed week for the summer in Newport, RI. Does anyone know a reputable website to use? It's been nearly impossible to find updated and accurate listings anywhere. Seems like every listing is years old and no one ever responds to any of the inquiries. Trying to surprise the wife as Newport is where she went to school and we absolutely love it there.

 

[Fried_shrimp]

Hi everyone and this is our first post. We are long time DVC owners and looking to purchase a fixed week for the summer in Newport, RI. Does anyone know a reputable website to use? It's been nearly impossible to find updated and accurate listings anywhere. Seems like every listing is years old and no one ever responds to any of the inquiries. Trying to surprise the wife as Newport is where she went to school and we absolutely love it there.

Have you tried calling a resort in the area directly?

 

[hjsweet2002]

Very difficult to find a week in Newport esp in the summer. Most weeks are owned by individuals. Good luck.

 

[Dougandbeth]

Very difficult to find a week in Newport esp in the summer. Most weeks are owned by individuals. Good luck.

I have finally hooked up with a realtor that has listings which is great. Some are fixed weeks which is obviously a guarantee we will get a reservation and other listings are flex summer weeks which is weeks 25-35. Does anyone know if we choose the flex summer / floating summer are we guaranteed a week in the summer or is it going to be virtually impossible to book. Wondering if it's a safer bet buying a fixed week so we are guaranteed a week. Any guidance would be great!

 

[HenryT]

I have finally hooked up with a realtor that has listings which is great. Some are fixed weeks which is obviously a guarantee we will get a reservation and other listings are flex summer weeks which is weeks 25-35. Does anyone know if we choose the flex summer / floating summer are we guaranteed a week in the summer or is it going to be virtually impossible to book. Wondering if it's a safer bet buying a fixed week so we are guaranteed a week. Any guidance would be great!

I own a summer flex week at Wyndham Long Wharf and I am always able to book the summer week I want. I reserve 13 months in advance though.

 

[bnoble]

Some are fixed weeks which is obviously a guarantee we will get a reservation and other listings are flex summer weeks which is weeks 25-35.

Is there a reason you think you'd need flexibility? If not, the fixed week seems like it makes more sense. It is simpler, and you can plan the rest of your summer around it without worrying about booking windows, etc.

 

[tschwa2]

Is there a reason you think you'd need flexibility? If not, the fixed week seems like it makes more sense. It is simpler, and you can plan the rest of your summer around it without worrying about booking windows, etc.

I think fixed weeks probably cost more; which may or may not be a consideration.

 

[jules54]

Also you might consider calling the resort directly speaking to on-site owner services or reservations manager. Don’t let them transfer you to Wyndham Vacation Club.If a recording gives you a toll free number it’s most likely Wyndham Vacation Club. My reasoning for calling the resort directly is if there are many fixed weeks or even floating weeks outside the system the resort owner services might have a list of owners who want to sell or weeks that are in default. I think most timeshares have these lists available.

 

[Dougandbeth]

Thanks everyone for your input and guidance. We are most likely pursuing a floating summer week, weeks 25-35 at Long Wharf. Now that we found listings it's going to be another event to get a fair price and negotiate with a seller. Understanding these agents represent sellers and not buyers I am sure they will try and get the highest price. Not even sure I know what a fair deal is. I will need to do some research because I don't want to pay $10,000 for something that everyone else is paynig $3,000 for. Thanks again!

 

[Dougandbeth]

Well folks I have an update. We have decided to give up on Newport and it's really sad. We want to buy there desperately but it's been impossible to actually purchase. I am not sure if it's a Newport problem, a Wyndham problem or agents that either ignore you or try and take advantage. It's so bizarre because we are ready to buy now and can't seem to make any progress. Well if anyone is looking to sell or know anyone that is, please reach out I would love to work with someone reputable.

Thanks for all the guidance and help!

 

[mdurette]

Keep looking things pop up. Regarding the flex week, if you book as soon as your window opens (could be a year in advance) you should not have an issue getting the week. If you wait too long before you booking window opens, then it could be.

Newport is such a hidden gem, love it there. People flock to the cape all summer and personally I think Newport has so much more to offer and is also in a much better location for day trips. My guess is your wife went to Salve Regina....such a beautiful campus!

 

[Dougandbeth]

Yes definitely she did go to Salve and we both love it there. Our kids are in high school and one is 1 year away from college so we will want to start getting back to Newport at least a week a year. We are coming up on our 20 year anniversary so it's sort of my surprise to her. We have a lifetime ahead of us to make more great memories in Newport. Now I just need to find someone that can actually help us

 

[tschwa2]

I think Wyndham has taken back a bunch of deeds through Ovations and summer weeks owners just aren't looking to sell right now.

 

[Dougandbeth]

I think Wyndham has taken back a bunch of deeds through Ovations and summer weeks owners just aren't looking to sell right now.

There's plenty to sell but getting a agent / broker to be responsive to buy it is nearly impossible. It's very odd

 

[tschwa2]

There's plenty to sell but getting a agent / broker to be responsive to buy it is nearly impossible. It's very odd

The ones you see may have been listed years ago and they may no longer be available. Places like SMTN list forever and only take them down if the sell through that site.

 

[bnoble]

There's plenty to sell but getting a agent / broker to be responsive to buy it is nearly impossible. It's very odd

That might be because their business model is not selling timeshares; it is listing timeshares for sale. Maybe not all of them, but certainly some of them.

 

[tschwa2]

There's plenty to sell but getting a agent / broker to be responsive to buy it is nearly impossible. It's very odd

Did you try this one. http://www.newporttimesharesrus.com/
They have several listed on Redweek and redweek makes you relist every 6-12 months.

 

[Dougandbeth]

That might be because their business model is not selling timeshares; it is listing timeshares for sale. Maybe not all of them, but certainly some of them.

It is their business but it's very odd. I have owned plenty of timeshares and this experience has been extremely odd, it's like some secret society. Strange

 

[Dougandbeth]

Did you try this one. http://www.newporttimesharesrus.com/
They have several listed on Redweek and redweek makes you relist every 6-12 months.

Yes and it's been a challenge

 

[bnoble]

It is their business but it's very odd. I have owned plenty of timeshares and this experience has been extremely odd, it's like some secret society. Strange

Many of these---especially those featuring many listings with wildly unrealistic asking prices---never expect to sell the timeshares they list. Instead, they charge owners an up front fee (often a large one) to list the timeshare. Part of justifying that large fee is telling the owner that the mud-season week they own at Mugwump Swamp is worth $20,000, and they will get all that fee back and much much more when it sells.

Of course, it will never sell anywhere near that price. In fact, it will probably never even generate a single offer because the asking price is literally laughable. But, the agent doesn't care because they have already been paid. The business is profitable with listing fees alone, and there is precious little motivation to also sell the thing. It would be better for those employees to spend their time trying to get more listings than it would be to answer any legitimate purchase inquiries; they make more money that way.

 

[Dougandbeth]

Many of these---especially those featuring many listings with wildly unrealistic asking prices---never expect to sell the timeshares they list. Instead, they charge owners an up front fee (often a large one) to list the timeshare. Part of justifying that large fee is telling the owner that the mud-season week they own at Mugwump Swamp is worth $20,000, and they will get all that fee back and much much more when it sells.

Of course, it will never sell anywhere near that price. In fact, it will probably never even generate a single offer because the asking price is literally laughable. But, the agent doesn't care because they have already been paid. The business is profitable with listing fees alone, and there is precious little motivation to also sell the thing. It would be better for those employees to spend their time trying to get more listings than it would be to answer any legitimate purchase inquiries; they make more money that way.

Those are really great points and now it makes a lot of sense. THANK YOU!

Seems like the going price for a floating week in the summer at Long Wharf is $7,500 and fixed weeks at Onshore range from $10,000 - $35,000 depending on week and location of unit. Yiked

 

[bnoble]

Seems like the going price

The sales price or the asking price? The latter may have very little to do with the former.

 

[Dougandbeth]

The sales price or the asking price? The latter may have very little to do with the former.

That's the frustration you don't know. There's only two brokers and they don't share any info and they say yay or nay on offers. Hence my frustration

 

[ausman]

Have you checked with the Registry of Deeds for Newport sales.?

 

[Dougandbeth]

Have you checked with the Registry of Deeds for Newport sales.?

I'm checking it now and it's giving me some insight which is good